Wednesday, 30 January 2013

Keeping it Under Wraps

A report in the Times newspaper earlier this week predicted the possible rise in private Arbitration to deal with financial settlements in divorce cases involving wealthy couples. This is a process whereby couples opt to employ a private Arbitrator to hear their case and agree to be bound by the Arbitrator’s decision rather than go to courtThe process, which has been described as ‘effectively privatising divorce’, is becoming more attractive to wealthy couples who want to avoid the possible scrutiny of their financial affairs by the media in court. As the court cracks down on husbands who are unwilling to give financial disclosure, such as the recently imprisoned Scot Young, it is predicted that arbitration may also become more attractive to those who are reluctant to reveal their substantial assets in detail.Regardless of whether some may have questionable motives for choosing Arbitration, it has much to recommend it as do other forms of resolving financial disputes outside the court such as mediation. If, as seems likely, the courts become increasingly congested as a result of the cuts in legal aid and the rise in the numbers representing themselves, both Arbitration and mediation may well also become more appealing to couples of more modest means.We are a team of specialist family law solicitors in Manchester [http://www.pannone.com/services/family-personal-and-financial/family]. Our team includes Liz Cowell who is a qualified Arbitrator. For more divorce advice [http://www.pannone.com/services/family-personal-and-financial/family/divorce-solicitors-and-lawyers-at-pannone-llp/divorce-process] please read our family law blog [http://www.pannone.com/blog/family-law] or follow us on Twitter @Divorce_experts